Demand for private jets set to rise as global economy improves

The demand for private jets continues to rise in the Asia Pacific region, with more high net-worth individuals and recovering economies propping up growth in the sector.
According to industry players who were in Singapore for the recent airshow, Asia is fast overtaking Western countries when it comes to the private jet sector. And it is not just high net-worth individuals driving demand.
And observers said the push for demand when it comes to private jets in the region will also come from high rollers who are expected to arrive once the two integrated resorts with casinos are fully opened in Singapore.
Luis Carlos Affonso, Executive VP, Executive Jets, Embraer, said: "The casinos, as many other industries, will improve the number of planes flying around. The Asia Pacific market is one of the most important markets for business aviation. We believe this region will represent 12 percent of the total market in the next 10 years."
20/02/10 Satish Cheney/CharterX

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Categories: Foreign Feb 2010, Indian Aviation- In General Feb 2010